Sandia Investment Management LP Makes New Investment in Valley National Bancorp (NASDAQ:VLY)

Sandia Investment Management LP purchased a new position in Valley National Bancorp (NASDAQ:VLY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the company’s stock, valued at approximately $226,000.

A number of other large investors have also bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Valley National Bancorp in the fourth quarter valued at $25,000. Point72 Hong Kong Ltd bought a new position in shares of Valley National Bancorp in the fourth quarter valued at $39,000. Optiver Holding B.V. lifted its stake in shares of Valley National Bancorp by 80.9% in the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock valued at $46,000 after buying an additional 2,271 shares in the last quarter. Sapient Capital LLC bought a new position in shares of Valley National Bancorp in the fourth quarter valued at $103,000. Finally, CreativeOne Wealth LLC bought a new position in shares of Valley National Bancorp in the fourth quarter valued at $102,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $9.16 on Friday. The company has a 50 day moving average of $8.65 and a 200 day moving average of $9.39. The stock has a market cap of $5.13 billion, a P/E ratio of 13.28 and a beta of 1.05. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. The firm had revenue of $479.67 million for the quarter, compared to analysts’ expectations of $483.98 million. During the same period in the prior year, the firm posted $0.19 EPS. As a group, sell-side analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.80%. Valley National Bancorp’s dividend payout ratio is presently 63.77%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Barclays dropped their price target on shares of Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank of Canada raised their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Truist Financial assumed coverage on shares of Valley National Bancorp in a research report on Tuesday. They set a “hold” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp presently has an average rating of “Hold” and a consensus target price of $10.60.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.